Bar Harbor Wealth Management Trims Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bar Harbor Wealth Management lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,771 shares of the medical research company’s stock after selling 1,338 shares during the period. Bar Harbor Wealth Management’s holdings in Thermo Fisher Scientific were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after purchasing an additional 196,864 shares during the last quarter. Capital World Investors raised its holdings in Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock valued at $4,905,812,000 after buying an additional 104,343 shares during the period. Geode Capital Management LLC lifted its position in Thermo Fisher Scientific by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock valued at $4,075,540,000 after buying an additional 197,442 shares during the last quarter. Norges Bank purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $3,149,754,000. Finally, Northern Trust Corp increased its position in shares of Thermo Fisher Scientific by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock valued at $2,034,107,000 after acquiring an additional 455,004 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Scotiabank cut their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $605.30.

Thermo Fisher Scientific Trading Down 0.1%

NYSE TMO opened at $414.85 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The firm has a 50 day moving average of $417.11 and a two-hundred day moving average of $493.15. The stock has a market capitalization of $156.60 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the previous year, the firm posted $5.11 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific’s payout ratio is 10.09%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.